Feb 24 (Reuters) - Canada's Encana Corp cut
its 2016 capital spending forecast to less than half its 2015
expenditure and said it would lay off 20 percent of its
workforce this year.

The oil and gas producer cut its capital budget for 2016 to
$900 million-$1 billion from $1.5 billion-$1.7 billion it
forecast earlier as a steep drop in oil prices forces the
company to focus on core assets and lower costs.